Geothermal Drilling Market for Power Generation by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44744
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The geothermal drilling market for power generation has the potential to grow by USD 199.86 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.53%.

This geothermal drilling market research report for power generation provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (binary plants and steam plants) and geography (Europe, APAC, North America, MEA, and South America). The geothermal drilling market report for power generation also offers information on several market vendors, including Baker Hughes Co., Deep Rock Manufacturing Co., Fraste Spa, Geotech Drilling Services Ltd., Halliburton Co., Huisman Equipment BV, KCA Deutag Alpha Ltd., Marton Geotechnical Services Ltd., Ormat Technologies Inc., and Schlumberger Ltd. among others.

What will the Geothermal Drilling Market Size for Power Generation be in 2021?

Geothermal-Drilling-Market-For-Power-Generation-Market-Size-2020-2025

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Geothermal Drilling Market for Power Generation: Key Drivers and Trends

The rising demand for energy is notably driving the geothermal drilling market growth for power generation, although factors such as high capital requirement may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the geothermal drilling market for power generation get your FREE report sample now.

This geothermal drilling market analysis report for power generation also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Geothermal Drilling Market Vendors for Power Generation?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Baker Hughes Co.
  • Deep Rock Manufacturing Co.
  • Fraste Spa
  • Geotech Drilling Services Ltd.
  • Halliburton Co.
  • Huisman Equipment BV
  • KCA Deutag Alpha Ltd.
  • Marton Geotechnical Services Ltd.
  • Ormat Technologies Inc.
  • Schlumberger Ltd.

 

The geothermal drilling market for power generation is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the geothermal drilling market forecast report for power generation for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Geothermal Drilling Market for Power Generation?

Geothermal-Drilling-Market-For-Power-Generation-Market-Share-by-Region-2020-2025

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38% of the market’s growth will originate from Europe during the forecast period. Iceland is a key market for geothermal drilling for power generation in Europe. 

The report offers an up-to-date analysis of the geographical composition of the market. Europe has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The need for efficient use of resources and reduction of emissions will facilitate the geothermal drilling market growth for power generation in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Geothermal Drilling Market for Power Generation?

Geothermal-Drilling-Market-For-Power-Generation-Market-Share-by-Application-2020-2025

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The geothermal drilling market share growth for power generation by the binary plants segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the geothermal drilling market size for power generation.

 

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What are the Key Factors Covered in this Geothermal Drilling Market Report for Power Generation?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive geothermal drilling market growth for power generation during the next five years
  • Precise estimation of the geothermal drilling market size for power generation and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the geothermal drilling industry for power generation across Europe, APAC, North America, MEA, and South America 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of geothermal drilling market vendors for power generation 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The geothermal drilling market growth will increase by $244.99 million during 2019-2024.
The geothermal drilling market is expected to grow at a CAGR of 5.13% during 2019-2024.
Technavio has segmented the geothermal drilling market by application (Binary plants and Steam plants) and geographic (Europe, APAC, North America, South America, and MEA).
Baker Hughes Co., Deep Rock Manufacturing Co., Fraste Spa, Geotech Drilling Services Ltd., Halliburton Co., Huisman Equipment BV, KCA Deutag Alpha Ltd., Marton Geotechnical Services Ltd., Ormat Technologies Inc., Schlumberger Ltd. are a few of the key vendors in the geothermal drilling market.
APAC will register the highest growth rate of 41.65% among the other regions. Therefore, the geothermal drilling market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • Turkey
  • Indonesia
  • US
  • Iceland
  • New Zealand
The key factors driving the geothermal drilling market growth are:
  • Rising demand for energy
The geothermal drilling market vendors should focus on grabbing business opportunities from the binary plants segment as it accounted for the largest market share in the base year.
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